Last chance saloon for Greece

8 July, 2015

It looks like Greece has finally been given an ultimatum by its creditors in a last ditch attempt to save the country from leaving the Eurozone. A deal must be presented by Thursday with the deadline of Sunday to thrash out the details and agree on a new bailout. But given the Greek government’s approach to negotiations since it came to power in January, anything can happen in that time. The ECB has made it clear that their support for Greek banks will end next week and the Eurogroup has “a Grexit scenario prepared in detail” if a deal is not struck. The odds of a new deal being agreed are heavily stacked against the optimists, if indeed there are any optimists left. We can expect volatility to remain high going into the weekend and certainly next week if Grexit ensues.

Away from Greece today’s other important market events include the UK’s emergency budget and this evening’s FOMC minutes. Both could move the markets, in the case of the budget scrutiny will be given on the OBR’s growth forecasts given the deterioration of the situation in the Eurozone and proposed welfare cuts, which in turn could give insight into when that first rate hike from the Bank of England will come. The FOMC minutes have greater potential to move the dollar where investors will want to see how improved inflation prospects and wage growth might translate into greater potential for a September rate hike, but given the dovish bias to growth forecasts and external threats to the US economy that remain we feel September is too early for the Fed to make its first move.


Source link  
Crude's Collapse Is Sending Shockwaves

Investors have gone from contemplating the prospect of oil at $100 to sub-$50 in less than two months. No wonder global markets are playing catch-up....

Dollar growth pushed down stock indices

Monday was a hard day for the financial markets. American DJI lost more than 2.3% and S&P500 decreased by 2.0%. As in previous weeks, the main pressure...

U.S. stocks recover after elections

Preliminary estimates of the U.S. election results support a positive mood on the world markets, reducing the demand for protective assets and causing...


Cautious mood has returned to stocks

American markets ended trading on Wednesday with a slight increase. Asian bourses also experienced growth at the opening, but it was quickly...

Emerging markets rebound seems over

Asian markets have turned to a decline with a renewed force. After the rebound of last week, the index MSCI Asia ex Japan loses 1.2% and is only...

Rebound in Asian markets intensifies

On Friday morning, the demand for risks on the Asian bourses continues to recover. MSCI for Asia ex Japan is adding more than 1.2% this morning, having...


Reasons to rebound EM indices

Asian markets are adding after reaching 14-month lows the day before. Positive markets are supported by the reports about China's invitation to trade...

Strong data supports U.S. markets

Stocks of the Emerging Markets remain under pressure on Wednesday morning, with positive sentiments prevailing in American markets following...

Pound press dollar on news about Brexit

Michael Barnier, the EU's top negotiator on Brexit, called a reaching of the agreement on the deal within next 6-8 weeks realistic. This news supported...


In the past 24 hours Bitcoin has lost -0.01% and reached $5592.73379065. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.1164% and is now at $1.13. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -15.87% and is now at $176.796871759. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM86%
4Alfa-ForexAlfa-Forex85%
5FxProFxPro84%
6FIBO GroupFIBO Group83%
7OctaFXOctaFX82%
8HotForexHotForex80%
9FXCMFXCM78%
10AvaTradeAvaTrade76%
  


Share: